CHICAGO, Nov. 19, 2007 (PRIME NEWSWIRE) -- Knology, Inc. (Nasdaq:KNOL) has announced an agreement to acquire the stock of Graceba Total Communications, Inc.
RSM EquiCo Capital Markets LLC led the negotiations and acted as exclusive financial advisor to Graceba. G. David Johnson of Johnston, Hinesley, Flowers, Clenney & Turner, P.C. was the legal advisor to Graceba.
"Knology is an excellent partner to continue the legacy of innovation and customer service that our employees have worked tirelessly to provide for the past 95 years since our inception," said C. Chris Dupree, president, chairman and CEO of Graceba. "We are extremely humbled and appreciative of what we have accomplished through the relationships with our customers, and by the overwhelming support of the communities that we serve. We have worked extremely hard to build an exceptional business and believe it is the right time to combine with Knology in order to maximize the benefit to our customers and employees."
He continued, "This transaction will strengthen our business and provide more resources to better serve our customers. Knology brings a combination of industry expertise and resources that will position the company for continued success well into the future."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Brian Boyle, senior managing director, and Kamal Patel, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Graceba Total Communications, Inc.
Graceba Total Communications, Inc. (www.graceba.com), established in 1912 and with headquarters in Dothan, Ala., is a full-service provider of voice, cable TV and high-speed data services. The company is a licensed incumbent local exchange carrier providing local and long-distance telephone service and digital subscriber line (DSL) high-speed Internet services to approximately half of Houston County, Ala. (an area of approximately 300 square miles). The company is also a licensed facilities-based competitive local exchange carrier offering cable TV, local and long-distance telephone service and high-speed Internet service to roughly 35 percent of the remaining area in Houston County. Graceba was the first in its market to provide a bundle of services (called its "triple play" bundle) that combines cable TV, high-speed Internet and telephone service via one network to some 25,000 residential and commercial connections. Through its proprietary network, approximately 65 employees and two local offices, Graceba is dedicated to enhancing the quality of life for its customers and supporting the economic development of their communities by providing reasonably priced, advanced communications services to their homes and businesses.
About Knology Inc.
Knology Inc. (www.knology.com), headquartered in West Point, Ga., is a leading provider of interactive communications and entertainment services in the Southeast. Knology serves both residential and business customers with one of the most technologically advanced broadband networks in the country. Innovative offerings include over 200 channels of digital cable TV, local and long distance digital telephone service with the latest enhanced voice messaging features, and high-speed Internet access, which enables consumers to quickly download video, audio and graphic files using a cable modem. Knology's fiber-based business products include Passive Optical Network, which supplies IP architecture with segmented voice and data bandwidth, and Managed Integrated Network Solutions, an integrated IP-based technology that converges data and voice. As of July 31, 2007 Knology reported 626,852 total connections.